REG-Castelnau Group Ltd: Silverwood Brands Plc. Loan Conversion

CastelnauAnnouncement

29/01/2024 13:45

29 January 2024

Castelnau Group Limited

(“Castelnau” or the “Company”)

Castelnau has agreed to convert its unsecured loan facility of £4.4 million
to Silverwood Brands PLC (“Silverwood”) into equity in Silverwood. The
conversion price is 54 pence per ordinary share, resulting in the issue of
8,148,147 new Ordinary Shares to Castelnau. The accrued interest of £855k
will remain as an outstanding loan accruing interest in line with the original
loan terms. At the same time as this conversion Andrew Gerrie, Chief Executive
Officer of Silverwood, has agreed to subscribe for 1,851,852 new Ordinary
Shares at a price of 54 pence raising gross proceeds of £1.0 million for the
Company. In addition, Silver Americum Limited, a company in which Mr Gerrie
and his wife each hold separate 20% interests, has agreed to provide an
unsecured convertible loan of £0.5 million to the Company.

 

Following conversion, Castelnau will own 12,718,499 Ordinary Shares or 4.7% of
the equity in Silverwood.

 

Additionally, Mark Power, an Investment Analyst at Phoenix Asset Management
Partners (“PAMP”) has been appointed as a Non- executive Director of the
Silverwood to represent the interests of Castelnau.

 

Mr Power graduated with a degree in electronic engineering in 1996, and
subsequently spent five years with Analog Devices as a senior engineer,
working in both design and manufacturing.  In 2001, Mr Power pivoted to a
career in investment research, first at Merrill Lynch and later as a partner
at Redburn.  From 2011, Mr Power worked with Holland Advisors, where he
helped shape the investment process for its nascent value fund. Mr Power
joined PAMP in 2021.

Further information on the Company can be found on its website
at www.castelnaugroup.com
 

Castelnau Group
Richard Brown - CEO
info@castelnaugroup.com

Liberum Capital Limited
+44 (0) 20 3100 2000
Darren Vickers/Owen Matthews/Will King

Citigate Dewe Rogerson
+44 (0) 20 7638 9571
Caroline Merrell/Toby Moore

 



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